TechnipFMC (NYSE:FTI) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of TechnipFMC (NYSE:FTI) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Citigroup raised their price target on TechnipFMC from $48.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. BMO Capital Markets increased their price objective on TechnipFMC from $52.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, February 23rd. Royal Bank Of Canada raised their target price on shares of TechnipFMC from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of TechnipFMC from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. Finally, Evercore reiterated an “outperform” rating and issued a $83.00 price target on shares of TechnipFMC in a research note on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.40.

TechnipFMC Trading Up 0.6%

Shares of NYSE:FTI opened at $75.05 on Monday. The company’s 50-day moving average price is $69.31 and its two-hundred day moving average price is $55.53. TechnipFMC has a one year low of $28.87 and a one year high of $77.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.13 and a quick ratio of 0.88. The stock has a market capitalization of $29.92 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.74.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.52 billion. TechnipFMC had a return on equity of 34.06% and a net margin of 10.62%.TechnipFMC’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. On average, equities analysts forecast that TechnipFMC will post 2.93 EPS for the current fiscal year.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Tuesday, May 19th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. TechnipFMC’s payout ratio is presently 7.63%.

Insiders Place Their Bets

In other TechnipFMC news, CAO David Light sold 6,622 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $62.43, for a total value of $413,411.46. Following the transaction, the chief accounting officer directly owned 5,005 shares in the company, valued at $312,462.15. The trade was a 56.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rousset Sophie Zurquiyah sold 6,350 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $69.32, for a total transaction of $440,182.00. Following the completion of the transaction, the director owned 59,887 shares in the company, valued at approximately $4,151,366.84. This represents a 9.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,216,442 shares of company stock worth $75,762,414 in the last quarter. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in TechnipFMC by 26.7% during the fourth quarter. AQR Capital Management LLC now owns 16,866,408 shares of the oil and gas company’s stock worth $751,567,000 after acquiring an additional 3,549,839 shares during the last quarter. State Street Corp grew its position in shares of TechnipFMC by 62.2% in the third quarter. State Street Corp now owns 12,884,052 shares of the oil and gas company’s stock valued at $508,276,000 after purchasing an additional 4,938,498 shares during the last quarter. Invesco Ltd. increased its stake in shares of TechnipFMC by 64.9% during the fourth quarter. Invesco Ltd. now owns 11,272,089 shares of the oil and gas company’s stock worth $502,284,000 after purchasing an additional 4,437,960 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TechnipFMC by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,374,192 shares of the oil and gas company’s stock worth $409,262,000 after purchasing an additional 232,491 shares during the period. Finally, Boston Partners lifted its holdings in TechnipFMC by 2.0% during the 3rd quarter. Boston Partners now owns 9,861,982 shares of the oil and gas company’s stock worth $389,018,000 after purchasing an additional 192,549 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

TechnipFMC Company Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.